Synaptogenix Stock Price, News & Analysis

Synaptogenix (NASDAQ: SNPX) announced its rebranding to TAO Synergies Inc. and will begin trading under the new ticker symbol "TAOX" on July 1, 2025. The company is pivoting its strategy to focus on TAO, the leading AI token by market capitalization and adoption.

The company has initiated staking of TAO tokens to generate revenue through both staking yield and token appreciation. Executive Chairman Joshua Silverman emphasized this transition as a strategic move to create long-term shareholder value. A new corporate website detailing the company's TAO integration will launch in summer 2025.

Synaptogenix (NASDAQ: SNPX) has initiated its cryptocurrency treasury strategy with its first purchase of TAO tokens, focusing on AI and machine learning investments. The company has appointed BitGo as its custodian to provide qualified custody, staking, and trading services for its TAO holdings.

Under the leadership of James Altucher, the company's Crypto TAO strategy leader, Synaptogenix has begun staking TAO tokens for revenue generation and capital appreciation. BitGo will secure the digital assets in regulated, insured cold storage and facilitate TAO acquisitions through its trading platforms and OTC desk.

Synaptogenix (NASDAQ: SNPX) has announced a major strategic shift by launching a cryptocurrency treasury strategy focused exclusively on Bittensor's TAO token, the leading AI cryptocurrency by market cap. The company plans an initial $10 million TAO token acquisition, with a total target of $100 million. Crypto and AI expert James Altucher will lead the TAO-based revenue generation strategy, focusing on staking yield and token appreciation. The company has also secured $5.5 million in financing through Series D convertible preferred stock at $3.00 per share. Synaptogenix plans to change its name and ticker symbol to align with this new digital asset strategy. The initial TAO acquisition, representing over twice the company's current market value, will be funded through existing cash reserves.

Synaptogenix (NASDAQ: SNPX) has formed an independent Special Committee to explore strategic opportunities for value creation. The company reports $19.6 million in cash as of September 30, 2024, with approximately 1.3 million common shares outstanding. The company expects a significant reduction in cash burn rate as it explores alternatives to previous R&D programs.

Synaptogenix is open to advancing its Bryostatin-1 asset through collaboration with a strategic partner offering non-dilutive investment. The company has also submitted a grant proposal to the National Institutes of Health (NIH) for Bryostatin-1 development.

Synaptogenix (NASDAQ: SNPX) has secured a $5.0 million financing through a combination of a registered public offering and a private placement. The company is selling 5,000 shares of newly issued Series C convertible preferred stock at $1,000 per share, convertible into common stock. The offering includes unregistered common stock purchase warrants and is expected to close around September 12, 2024.

Key details of the financing:

• Initial conversion price of $4.00 per share for Series C preferred stock
• 5.0% quarterly dividend payable in cash
• Warrants have an initial exercise price of $4.00 per common share
• Warrants are exercisable immediately and for five years from issuance

CEO Dr. Alan Tuchman stated that this capital will enhance the company's ability to explore potential acquisitions and fund research on innovative assets to drive growth and maximize shareholder value.

Synaptogenix (NASDAQ: SNPX) has announced a new collaboration with LSU Health New Orleans' Neuroscience Center of Excellence to test its polyunsaturated fatty acid (PUFA) analogs for treating spinal cord injury (SCI). The company also received US Patent No. 12,016,837 for its PUFA analogs in treating neurodegenerative diseases.

The study will compare these analogs with Bryostatin in SCI treatment. Synaptogenix holds exclusive rights to these PUFA analogs, which have shown promise in earlier pre-clinical testing for various neurodegenerative diseases. Like Bryostatin-1, these analogs activate the enzyme PKC epsilon (PKC ε), but at a different site, potentially offering a next-generation treatment for neurodegenerative conditions.

Synaptogenix has received FDA authorization for an Investigational New Drug (IND) application to conduct a clinical trial on Bryostatin-1, a potential treatment for multiple sclerosis (MS).

The trial, which will be held at the Cleveland Clinic Neurological Institute's Mellen Center, aims to evaluate the drug's effects on synaptic health and cognitive function using advanced 7-tesla MRI technology.

Synaptogenix highlights the need to address cognitive decline in MS, with the trial fully funded and expected to start soon.

Preclinical data shows that Bryostatin-1 may enhance synapse health, reduce inflammation, and prevent neurological degradation.

Synaptogenix has a strong financial position with $26.3 million in cash, supporting ongoing and future research efforts.

Synaptogenix, Inc. (Nasdaq: SNPX) praises the DEA's proposal to reclassify cannabis as a Schedule III drug, potentially benefitting its partner Cannasoul for cannabinoid-based drug discovery. The move would de-risk drug development, streamline regulatory pathways, and enhance clinical development for cannabis-based therapeutics.